The chairman of the board of governors of the institute S K Birla told reporters that the school would be one of its class located on the outskirts of the city and set up on 15 acre of land.
Admission criteria to the school would be through GMAT and CAT scores, Birla said, adding the intake for the first year would be limited to 60.
The annual fee would be around Rs 2.4 lakh.
Birla said it would be fully residential, co-educational and managed autonomously.
The other promoters include BM Khaitan of Williamson Magor group, BK Jhawar of Usha Martin and BD Sureka of Sureka Group.
The school is in the process of collaborating with international universities as well.
